Prior to the advent of the industrial age, commercial transactions carried out by institutions were limited to a restricted territory and the user presence was invariably local.
However, with the advent of the industrial age, commercial transactions are carried out on a large scale. As a result, in the modern scenario, commercial transactions performed by institutions are governed by increasing competitiveness and stringent budget controls. As a result, the personnel conducting marketing transactions are subject to constant pressure to produce results and justify marketing expenditure. Therefore, financial terminologies, for example, Return On Investment (ROI) and Economic Value Added (EVA) are no longer terminology, that is the sole concern of finance personnel in an institution involved in commercial transactions.
As a result, the disbursing of product information and product related financial information assumes significance. In addition, the timeliness of disbursing of product information and product related financial information is crucial. In this context, the media employed for disbursing of information is important.
Further, as the media becomes increasingly fragmented and media options are dynamically multiplied, the requirement to simplify the decision-making process for a media managing personnel also increases.
Evaluating best advertising elements and identifying the optimum media are important but it is very difficult to generate an authentic decision in the absence of proper performance measuring tools.
Offline advertising methods like brochures, newsletters or billboards etc. are not only costlier than online media campaigns but there is no guarantee they would drive customers to your store/website or for that matter to purchase your products. You are unable to link which advertisement has evoked what kind of a response. Measuring offline advertising is one thing most marketers don't do due to lack of proper tools or technical resources.
In the present scenario, media planners are increasingly interested in deploying the optimum approach so that, expenditure of a large portion of their advertising budgets is avoided on ineffective conventional mediums. As a result, they are always in the quest for innovative and efficient new tools that can enrich the customer engagement and provide more promising methods to ensure that the advertisements are converting into the merchandise. Thus, planners in the modern scenario implement the response-driven approach to deliver effective communication at an optimum Return-On-Investment (ROI).
The conventional system of business is from advertisement that generates leads to the call center. Response to such leads by call center takes 3 to 8 days, and further the inquiries are forwarded to the sales department for manual distribution to local front liners or agents that play a key role in closing the leads. Further, the feedback mechanism on the status of the inquiries distributed takes another 6 to 14 days, and at times it is never received. In the above process, the Lead Generated loses its intensity as the response time to the customer in closing the lead has the longer cycle time and is transferred through several entities.
The conventional system does not eliminate the delay in response to the user, as opposed to the present described system and method. In the described system and method, the leads generated by advertisement pass through a rapid real time processing, and various parameters ensure that the leads are in the right hands that have capability to close the lead in the shorter time span, which, in turn enhances the brand equity and causes both the agent and customer to be consistent.
In this present scenario, the advent of the Internet and the mobile communication network has substantially transformed the mode of commercial transactions performed by a consumer. Prior to the advent of the Internet and the mobile communication networks, the mode of the commercial transaction performed by a consumer, involved the consumer being physically present at the venue of the transaction or at least in the proximity of a stationary communication device. Conducting a commercial transaction while being on the move had not been envisaged in such a scenario. For example, in the prior scenarios, when a consumer views an advertisement in the media for example in media type like, print media such as newspapers, magazines, journals, posters, billboards, wall paintings, broadcast media such as, Television, out of home Media (OOH), Radio, mobile television and web media like Internet, etc. and has the intention of purchasing the non-digital merchandise, conventionally, the procedure adopted is that, on viewing the advertisement, the consumer finds out the information regarding the names of the merchandise providers of the non-digital merchandise, allied services and their respective contact details.
The consumer then verifies the names and corresponding contact details of the merchandise providers and contacts them individually to find out the optimal price and availability of the non-digital merchandise and/or allied services. The process is cumbersome. With the advent of the Internet and the mobile communication network, although it is possible for the consumer to contact the merchandise providers on the move, it is still a repetitive process for the consumer to determine the optimal price from among a set of merchandise providers. There is therefore, a need for a process of obtaining the optimal price in a more convenient manner.
For consumers on the move, it is very convenient if the non-digital merchandise and/or allied service of their choice is delivered at the present geographical location of the consumer or a geographical location of their choice.
In U.S. Pat. No. 7,027,801, a proposal in the art reveals a method and system for delivering location-based targeted advertisements to mobile subscribers. The proposal reveals a system, which has the capability for pushing advertisements that relate to a specific consumer profile or pushing information that relates to a consumer profile according to a very specific consumer information location. More specifically, a consumer initially logs in to a consumer server and enters profile information. Similarly, a vendor also enters its' vendor information through the same, or a different server. Finally, the user enters device capability information into a database wherein the combination of vendor information, consumer profile information and device capability information are all used in conjunction with an application server and a location server to determine what data, information or advertisements are to be pushed to the information consumer.
Yet another proposal in the art, disclosed in U.S. Pat. No. 6,658,389, reveals a system, method, and business model for speech-interactive information system having business self-promotion, audio coupon and rating features. The proposal reveals a system comprising: a speech server receiving a spoken voice telephone call from an external telephone including spoken voice input commands requesting information on a good or service from an end user without requiring said end user to provide any text or symbolic command representation; a speech-to-text conversion engine converting said received spoken voice input commands from said external telephone separate from said speech-to-text conversion engine over a wired or wireless telephone line to generate output text-based or symbol-based commands and data; means for determining a geographic location of interest of an end user making said spoken telephone call; a database storing a plurality of data items including a merchant identity information and at least one good or service associated with said merchant.
A further proposal in the art, disclosed in U.S. Published Patent Application No. 20040249723, reveals a system and method for the automatic selection of a good buy in price-comparison sites, when the user buys more than one merchandise at the same time. However, the references in the art reveal methods and systems of a user on the move enabled to receive advertisements, enabled to obtain information about merchandises in the convenient geographical location and user having a good buy in comparison when the user buys more than one merchandises. The reference discloses an inventive system and method for automatic selection of a good buy in price-comparison sites when the user buys more than one merchandise at the same time by allowing users to search for one or more acceptable or near-optimal item combinations when buying multiple items from multiple vendors at the same time, instead of trying to find an optimal combination, preferably by using efficient and practical heuristics, and preferably with automatically offering additional complementary services when required.
The references in the art do not reveal a system, which brings the benefits of the online media to the conventional media in order to make the marketers equipped with the authentic performance measuring tools to increase the effectiveness of their marketing efforts.
However, the references in the art do not reveal a system in which the leads generated by the advertisement campaigns appear on the cell phones of front-lines/agent within few seconds of its occurrence.
The references in the art do not reveal a system in which leads are distributed directly to the efficient most front-liners/agents nearest to user on their mobile and the same lead and its status are reported to personnel concerned.
However, the references in the art do not reveal the entire process starting with a predefined code being sent to the service provider and ending in a sale in a short duration, the entire process being executed through mobile communication network, if the user agrees with the optimal price or a price subject to predefined market conditions and availability of the non-digital merchandise supplied by the merchandise provider, and received by the user on the move as part of the information received from the service provider.
The references in the art do not reveal market intelligence information of any non-digital merchandise and/or allied services capable of being judged, based on the output of the code received from the user on the move.
The references in the art do not reveal a campaign performance report capable of being generated based on the output of the code received from the user on the move.
The references in the art do not reveal a conversion tracking of the number of enquiries from the user in the form of a code, which have been converted into the actual purchase of the non-digital merchandise and/or allied services.
The references in the art do not reveal a merchandise provider performance report capable of being generated, based on the output of the code received from the user on the move. Further, references in the art do not reveal a real-time monitoring and mechanism for the control of the stocks of the non-digital merchandise allotted to the merchandise provider from the merchandise manufacturer and any allied services thereof, based on the feedback of the real-time monitoring of the merchandise provider.
The references in the art do not reveal a geographical location performance report for specific non-digital merchandise and any allied services, based on the output of the code received from the user on the move.
The references in the art do not reveal a network performance report in which the network adopted for making the purchase for example, an internet website, an input via a code to be sent via short message service.
The references in the art do not reveal a media performance report capable of being generated, based on the output of the code received from the user on the move.
The references in the art do not reveal an advertisement performance report capable of being generated, based on the output of the code received from the user on the move.
The references in the art do not reveal a unified report which can be generated by using data as contained in the outputs and embodied in one or combination of the reports and may be combined completely or in parts as appropriate to the requirement, based on the output of the code received from the user on the move.
The references in the art do not reveal a system which performs factual comparisons across media and provides intelligence to the media managers that can result into performance-oriented advertisement expenditure, which leads to targeted brand awareness and business as desired in a non-cumbersome manner.
The references in the art do not reveal a system, which helps to decide media advertisement, news paper, television channel, radio and creative advertisement copy is beneficial in a given territory in a non-cumbersome manner.
The references in the art do not reveal a system, which further refines the analytics by measuring the conversions from awareness and desire for each advertisement campaign which in turn creates an opening as to make the advertisement campaigns more effective and thus making them achieve more from the existing advertisement budget in a non-cumbersome manner.
The references in the art do not reveal a system, which enables the performance of advertising in a scientific and manner in which performance of advertising is not random, but it also has the capability of quantifying the results of the advertisement in a non-cumbersome manner.
The references in the art do not enable prediction of the response rates of advertisements.
Marketing campaign effectiveness has been one of the most challenging processes to quantify for any marketer or company. Most of the time is spent in gathering and collating response data, thus losing focus on the campaign design and execution. With ever increasing media opportunities, keeping track of several campaigns and handling voluminous data related to campaigns is a difficult task. The references in the art do not enable advertising to be less wasteful and more measurable.
The references in the art do not enable measuring marketing performance in a non-cumbersome manner.